What if GMCS I is not completed within 1 year?

Can any one tell me please, Is completing GMCS-1 is mandatory within one year of our articleship. What will happen if fail to complete within one year of articles. Do we have any extended time for that..?

As per ICAI Norms, you are required to pursue your GMCS I within the 1st year.

Although penalty for non-completion of GMCS I has not been stated anywhere but ICAI officials say that if it is not completed within the 1st year - then you wont be allowed to appear for CA Final Exams.